MOIL declares a dividend of 30%
The 57th Annual General Meeting (AGM) of MOIL Limited, a city based Miniratna schedule ‘A’ company under administrative control of Ministry of Steel, Government of India, was held on Friday.
CMD, MOIL, M P Chaudhari chaired the meeting. In his speech he informed the shareholders that MOIL has achieved highest ever turnover of Rs 1440.67 crores in FY 2018-19, recording a growth of 8.86% as compared to previous year’s turnover which was Rs 1323.46 crores.
As compared to last year the company has recorded increase in Profit Before Tax (PBT) at 719.75 crore, which is higher by 11%.
Mr. Chaudhari, also mentioned that the company has produced 13.01 lakh tone of various grades of manganese ore during financial year 2018-19, which is highest ever production in last 10 years.
MOIL has also registered highest ever sales and production of non-fines manganese-ore during the financial year 2018-19. He further mentioned about starting of a new mine at Parsoda in Nagpur district with annual production capacity of 40,000 MT.
The shareholders declared payment of final dividend at 30 per cent (Rs 3 per equity share) which is in addition to Interim Dividend of Rs 3 per equity shares, already paid to the shareholders.
TK Pattnaik, Director (Commercial), Dipankar Shome, Director (Production and Planning) and Rakesh Tumane, Director (Finance), Usha Singh, Director (Human Resource), Independent Directors Sangita Gairola, Sunanda Prasad V M Chariar, G Latha Krishna Rao were also prominently present at the meeting.
Neeraj D Pandey, Company Secretary proposed the vote of thanks.